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Incorrect (and possibly negative) information can be added to your credit records at any time. And since the three credit reporting bureaus — TransUnion, Experian and Equifax — don't share information, you need to keep track of what's going on with all three. Remember that you can get a free credit report from Privacy Matters 1-2-3 when you try the service. If you have credit concerns, taking advantage of a free credit report may be a good place to start.
Credit Reporting Ignorance Is Not Bliss
Naturally, you don't want potential lenders, employers, landlords and others to see credit information that's wrong. And let's not forget that your credit score is based on information from your credit report.
The sooner you find and fix errors, generally the easier it will be to resolve them. The same goes for identity theft — the sooner you detect that you've been a victim of identity theft or fraud, generally the easier it will be to repair any damage to your credit and your good name.
Credit Reporting Basics
The good news is that staying on top of your credit information has become much easier. Just follow these simple steps and you'll be happily informed of the very latest activity to your credit files:
- Order your 3-in-1 Credit Report. Many companies and websites, including PrivacyMatters.com, offer a 3-in-1 Credit Report (sometimes called a Triple Bureau Credit Report) that combines information from all three credit reporting bureaus into one easy-to-read report. This free credit report is also available online from Privacy Matters 1-2-3 when you try the service. And that means no more waiting for the credit report to arrive in the mail. Instead, you can get an online credit report instantly! Of course, that can prove invaluable, given the busy pace of your life.
- Take a close look at your Credit Report. Only you can find and fix problems in your credit report, so it's critical that you carefully check each section of your report, make note of outdated or incorrect information and fix or dispute what you can.
- Sign up for credit monitoring. Once you've given your credit records a thorough once-over, it's easy to stay on top of your credit information through a 3-in-1 Credit Monitoring Service. Your monitoring service will notify you of new activity to your credit records with all three credit reporting bureaus and will alert you to potential signs of identity theft or fraud.
While it's true that what you don't know about credit reporting can hurt you, the good news is that products and services, like the 3-in-1 Credit Report and 3-in-1 Credit Monitoring, make it easier than ever to stay on top of credit reporting.
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